Thursday, June 20, 2013

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Early retirement saves City of Quincy
Posted: 11.08.2010 at 9:00 PM
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QUINCY, ILL. -- The Quincy City Council Monday night heard an update on the early retirement incentive program that it approved one year ago.

Director of Administrative Services Gary Sparks said thus far, the program has been outperforming expectations.

It had been projected that at the end of Fiscal Year 2011, Early Retirement would total about $1.2 million.

Sparks said they are on track to save $1.3 million instead.

At the time it passed Council, administrators said it would save at least $2.15 million through 2014. Sparks said that number has risen to about $5.2 million.

Twenty-two people took the ERI instead of the 18 originally thought.

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